For which product is the income elasticity of demand most likely to be negative?
A. Computer software
B. Used clothing
C. Apps for iPads
D. Bread
B. Used clothing
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An increase in technology that enhances labor productivity will likely result in:
A) a decrease in labor employment and an increase in the wage rate. B) an increase in labor employment and an increase in the wage rate. C) a decrease in labor employment and a decrease in the wage rate. D) an increase in labor employment and a decrease in the wage rate. E) employers using less labor and more capital while the wage effect is unknown.
In 2014, what were the two largest sources of federal tax revenues, and what were the two largest expenses of the federal government?
Recall the Application about the effects of increasing state level Earned Income Tax Credit (EITC) on child health in the United States to answer the following question(s).Recall the Application. According to the study cited in the Application, does EITC improve income distribution?
A. Yes, aside from increasing income for low-income households, it improves the health levels of the worker and their families. B. Yes, EITC encourages workers to sop working and get an education in the health industry. C. No, only the politicians get rich because of EITC. D. No, the level of spending on EITC is so low it has no measurable effects on incomes of the poor.
Which of the following is the tool used most frequently by the Fed?
A. The reserve requirement. B. The fed funds rate. C. The discount rate. D. Open market operations.